Genesis Global Capital, a defunct cryptocurrency lender, has filed a fresh motion with the United States Bankruptcy Court for the Southern District of New York, requesting permission to liquidate almost $1.4 billion worth of trust assets. Genesis, a division of the Digital Currency Group (DCG), reportedly has $1.4 billion in
February 4, 2024 1 min read
John Reed Stark, a former member of the U.S SEC, has hinted that the legal team may be trying to benefit from the bankruptcy proceedings via the FTX restructuring plan. Given the large gains made by the legal team during bankruptcy proceedings, Stark said in a post on twitter that
February 4, 2024 1 min read
Court documents filed on February 3 show that defunct cryptocurrency exchange FTX is requesting permission to sell all of its shares in artificial intelligence company Anthropic. FTX moved the US Bankruptcy Court for the District of Delaware to sell Alameda Research’s Anthropic Series B Preferred Stock and any rights or
February 4, 2024 2 mins read
Despite recording its most quarterly sales ever in the Q4 of 2023, Meta’s mixed-reality arm, Reality Labs, had an operating loss of more than $4.6 billion. While Meta’s virtual and augmented reality (VR/AR) research arm, Reality Labs, lost $4.65 billion in Q4, the company’s overall revenue was roughly $1.1 billion,
February 2, 2024 1 min read
The first metaverse app for the Apple Vision Pro is scheduled for release by virtual reality developer Victoria VR. The Victoria VR app will be accessible in Q2 2024, marking Apple’s first virtual reality venture, which is set to launch on February 2. The web3 application for Victoria VR will immerse users
February 2, 2024 2 mins read
In a recent post on twitter, Polygon Labs CEO Marc Boiron announced the layoffs of 19% of the team. After several other firms announced layoffs amid last year’s recession, Polygon Labs has decided to fire 60 employees. Boiron stated: “We are on a mission to fundamentally change the internet so
February 2, 2024 1 min read
The Hong Kong Securities and Exchange Commission (SFC) has received an application from the Bybit crypto exchange seeking a Virtual Asset Trading Operator (VATP) license. The SFC website states that the exchange, operating under the name Spark Fintech Limited, submitted the licensing application on January 31. Included in the fourteen
February 1, 2024 1 min read
The premier institution for digital assets, Nexo, announced that it has joined the International Association for Trusted Blockchain Applications (INATBA). With the help of INATBA’s well-established connections with important public sectors in finance and regulation, Nexo’s commitment to reshaping the blockchain landscape has advanced significantly with this strategic cooperation. Through this
February 1, 2024 2 mins read
Coinbase announced that former UK Chancellor George Osborne would join its board of advisors. Disputes with the U.S SEC and litigation against the cryptocurrency exchange have likely prompted the move. The action by Coinbase further shows that the company is attempting to sidestep U.S regulations as it expands into other
January 31, 2024 1 min read
GRIID, a cryptocurrency mining firm, situated in the United States, has formally gone live on the Nasdaq stock exchange. Up until this point, GRIID was known for operating Bitcoin mining operations that were vertically integrated and made use of cheap, low-carbon energy. Although it was founded in 2018, it wasn’t
January 29, 2024 1 min read
